The parent of 3D Systems Inc. in Valencia said it has begun issuing to its existing shareholders rights to purchase 9 million shares of common stock under its previously announced plan to raise about $10 million.
The company said shareholders will receive one right for each 10 common shares they owned on May 26. Each right will entitle the holder to purchase five common shares at an exercise price of 88 cents each. The over-the-counter stock closed Monday at $1.25 a share.
3D is owned by a Canadian company, 3-D Systems Inc. It makes machines that combine lasers, chemicals and a computer to rapidly manufacture plastic-like models of industrial parts and other products.